E&S/Specialty

A Delaware judge dismissed a shareholder lawsuit alleging that billionaire Warren Buffett and directors of Berkshire Hathaway Inc. failed to take proper action in response to stock trades by a former Berkshire executive ahead of the company's $9 billion acquisition of chemical manufacturer Lubrizol.

A Delaware judge dismissed a shareholder lawsuit alleging that billionaire Warren Buffett and directors of Berkshire Hathaway Inc. failed to take proper action in response to stock trades by a former Berkshire executive ahead of the company's $9 billion acquisition of chemical manufacturer Lubrizol.

The market is more unusual than 37-year insurance veteran Christopher J. Cavallaro has ever seen it.

The number of securities class-action settlements fell nearly 25 percent in 2011 compared to 2010, and the total dollar value of settlements fell by 58 percent to $1.4 billion, according to Cornerstone Research.

The number of securities class-action settlements fell nearly 25 percent in 2011 compared to 2010, and the total dollar value of settlements fell by 58 percent to $1.4 billion, according to Cornerstone Research.

Until another significant event occurs to take a large bite out of industry capital or underwriting capacity, a true hard market will remain elusive, says Fitch Ratings.